All IPE articles in August 2004 (Online) – Page 5
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Dresdner chief sees German pensions 50% funded
GERMANY - Herbert Walter, the top executive at Dresdner Bank, says he expects the German pension system to become 50% fully-funded, from the current 20%.
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F&C institutional assets hit by pension outflows
EUROPE – F&C, which is being bought by ISIS Asset Management, lost almost four percent of its institutional assets under management in the first half of 2004.
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USS names replacements for pensions chief
UK – The 19 billion-pound (28.4 billion-euro) Universities Superannuation Scheme has named replacements for former chief pensions manager Rosemary Mounce.
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Croatia “committed to pension sustainability”
CROATIA – The Croatian government says it is committed to the sustainability of the pension system – and that the recent change in how pensions are indexed will be beneficial.
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Hermes names new management team
UK – David Pitt-Watson, managing director of Hermes Pensions Management’s UK Focus Fund, is to take over from Peter Butler after his resignation on Tuesday.
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Commission splits internal markets and taxation
EUROPE - New European Commission president José Manuel Baroso has appointed two commissioners to run the internal markets and taxation departments that Frits Bolkestein used to head on his own.
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Julius Baer gains institutional assets (Correct)
(Corrects euro figure) SWITZERLAND – Julius Baer Group says its first-half income was boosted by a six billion-franc (3.9 billion-euro) rise in institutional assets under management.
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Schroders loses E5.9bn in UK balanced mandates
UK – Schroders says it lost four billion pounds (5.9 billion euros) in balanced mandates in the first half as UK clients continued to restructure their portfolios – but added the revenue impact is “limited”.
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AP2 eyes derivatives for portfolio rebalancing
SWEDEN - The 140.4 billion-crown (15.3 billion-euro) second Swedish national pension fund, Andra AP-fonden or AP2, is considering using derivatives “for portfolio–rebalancing purposes”.
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Fidelity names new UK DC development head
UK – Fidelity Investments has appointed Julian Webb as head of business development for its UK defined contribution business.
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HSBC AM names global fixed income head
GLOBAL – HSBC Asset Management has named a former Citigroup and Credit Suisse Asset Management executive, Gregg Diliberto, as its new global head of fixed income.
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Czech pension clients rise to 2.8m
CZECH REPUBLIC - The number of privately insured Czechs rose by 150,000 year-on-year to 2.81 million in the first half of this year, the Finance Ministry said.
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T&N crisis talks at “stalemate” (Update)
(Updates headline) UK – Alexander Forbes, scheme trustee at the crisis-hit Turner & Newall Pension Scheme, says talks over the future of the scheme have hit an impasse.
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ABN Amro: consultants, trustees not to blame
UK – ABN Amro has sent a letter to IPE about an item we ran yesterday picking up comments it made about consultants and trustees. The full text of the letter is below:
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AMF Pension returns 4.3% in first half
SWEDEN- The 210 billion-crown (22.8 billion-euro) pension provider AMF Pension has reported a return of 4.3% in the first half of the year - compared with last year’s first half result of 5.8%.
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Martinez-Aldama hopeful on pan-European pensions
EUROPE – Angel Martinez-Aldama, the head of the Spain’s pension association and vice chairman of the European Federation for Retirement Provision, has expressed hopes that pan-European pension funds will be soon be a reality.
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Watson Wyatt & Co. in “thought leadership” focus
US – Watson Wyatt & Co., the US sister firm of Europe-based Watson Wyatt LLP, says it aims to stay focused on “thought leadership” – despite a fall in income and revenue.
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TKP Pensioen boosts Aegon earnings
NETHERLANDS – Aegon’s first-half earnings have been boosted by its TKP Pensioen pension administration arm.
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Northern Trust hires Leech for planning role
GLOBAL - Northern Trust says it has hired Wilson Leech from State Street to be head of international strategic planning, a new role.
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Dutch funds’ Harcourt in German hedge move
GERMANY - Commerzbank’s Cominvest Asset Management and Dutch pension-fund-owned Harcourt Investment Consulting are planning to launch a fund of hedge funds in the second half of the year.
